§ 15904.07
445 words·~2 min read·
/ca/corporations-code/15904-07A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)A general partner, without having any particular purpose for seeking the information, may inspect and copy during regular business hours:
(1)in the limited partnership’s principal office, required information; and
(2)at a reasonable location specified by the limited partnership, any other records maintained by the limited partnership regarding the limited partnership’s activities and financial condition.
(b)Each general partner and the limited partnership shall furnish to a general partner which may be transmitted via electronic transmission:
(1)without demand, any information concerning the limited partnership’s activities and activities reasonably required for the proper exercise of the general partner’s rights and duties under the partnership agreement or this chapter; and
(2)on demand, any other information concerning the limited partnership’s activities, except to the extent the demand or the information demanded is unreasonable or otherwise improper under the circumstances.
(c)Subject to subdivision (e), on 10 days’ demand made in a record received by the limited partnership, a person dissociated as a general partner may have access to the information and records described in subdivision
(a)at the location specified in subdivision
(a)if:
(1)the information or record pertains to the period during which the person was a general partner;
(2)the person seeks the information or record in good faith; and
(3)the person satisfies the requirements imposed on a limited partner by subdivision
(b)of Section 15903.04.
(d)The limited partnership shall respond to a demand made pursuant to subdivision
(c)in the same manner as provided in subdivision
(c)of Section 15903.04.
(e)If a general partner dies, Section 15907.04 applies.
(f)The limited partnership may impose reasonable restrictions on the use of information under this section. In any dispute concerning the reasonableness of a restriction under this subdivision, the limited partnership has the burden of proving reasonableness.
(g)A limited partnership may charge a person dissociated as a general partner that makes a demand under this section reasonable costs of copying, limited to the costs of labor and material.
(h)A general partner or person dissociated as a general partner may exercise the rights under this section through an attorney or other agent. Any restriction imposed under subdivision
(f)or by the partnership agreement applies both to the attorney or other agent and to the general partner or person dissociated as a general partner.
(i)The rights under this section do not extend to a person as transferee, but the rights under subdivision
(c)of a person dissociated as a general partner may be exercised by the legal representative of an individual who dissociated as a general partner under paragraph
(2)or
(3)of subdivision
(g)of Section 15906.03.